Dr. Kevin Nunley's Biz Tip:
Sell Something REALLY Expensive
Economist are saying Americans have developed a real lust for expensive products and services. We love to buy nice things and the higher the price, the better. Of course, this isn't always the case. For the most part people are shopping for lower prices in these days of economic slow down. But there is still a BIG demand for pricey features.
Do you have a big, full-featured product or service to offer--at a fat price? You will find a significant segment of customers ready and willing to buy it. That trend applies even if your customers don't have big pocketbooks.
Economists say those of us with more modest budgets are caught up in the lust for luxury too. When the wealthy are standing in line for $40,000 watches, a $1,000 watch doesn't seem so expensive. Now that big companies regularly slap down $40,000 for a web site, many small biz folks don't think anything of spending $3,000 on theirs. One on-line provider has made a mint selling full-featured web site packages for $6,000 each.
I've known home-based businesses that have cut back on everything else to be able to afford one of those pricey packages.
Selling pricey products and services takes much more marketing, time, and customer hand-holding. Give people long lists of features and the benefits they will get from each feature. Plan to spend lots of time answering questions and exchanging email. In the end the larger profit should make it worth it for you.
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About the Author: Dr. Kevin Nunley is one of the Net's leading authorities on business promotion. He provides short articles on a wide variety of marketing and sales subjects. See his 10,000 marketing ideas and popular promotion packages at http://DrNunley.com. Reach Kevin at kn@drnunley.com, Kevin Nunley, 54 Ponemah Road, Amherst NH 03031, or 603-249-9519.
Copyright © Kevin Nunley. All rights reserved.
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